431 E 98th St, Brooklyn, NY, 11212

431 E 98th St Brooklyn, NY 11212

Brooklyn
FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$790,000
Last Verified:
Nov 07, 2024

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Highlights

  • Prime location in Brooklyn with high foot traffic and visibility.
  • Versatile layout featuring one residential apartment and a commercial store.
  • Commercial space can be delivered vacant for immediate use or investment.
  • Excellent opportunity for live-work arrangements or investment potential.
  • Close to public transportation and local amenities, enhancing accessibility and convenience

Description

431 E 98th St is a two-story mixed-use building for sale, featuring one residential apartment and a commercial space. The commercial unit has an expiring lease and may be delivered vacant, providing flexibility for an owner-user or the opportunity to re-lease for increased potential returns. The renovated residential unit is currently occupied with a long-term tenant. Situated in a high-traffic area with convenient access to local amenities, this property offers diverse investment options, from rental income to a live-work arrangement.

Nestled in the vibrant neighborhood of Brownsville, 431 E 98th St offers a dynamic urban setting with a rich cultural tapestry. This area is characterized by its strong community spirit and diverse demographic, providing a unique backdrop for both residential and commercial endeavors. The property enjoys excellent accessibility, with multiple public transportation options nearby, including bus routes and subway stations, ensuring seamless connectivity to the rest of Brooklyn and Manhattan. Additionally, the surrounding streets are lined with local shops, restaurants, and parks, making it a convenient and attractive place to live and work. With ongoing developments in the area, this location is poised for growth, making it an exciting prospect for savvy investors and business owners alike.


Year Built: 1930
Building Size: 1840sq ft
Lot Size: 0.02 acres

Map of 431 E 98th St, Brooklyn, NY, 11212

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.